Gold Price Today: Gold prices created a new history in Delhi’s bullion market on Tuesday. Gold rose by Rs 1,800 to Rs 1,15,100 per 10 grams amid hopes of cutting interest rates of weak US dollars and Federal Reserve. This is the highest level ever. According to the All India Bullion Association, gold with 99.5 percent purity also rose by Rs 1,800 to Rs 1,14,600 per 10 grams at a record high.
The condition of the last trading day
However, on Monday, there was a decline in gold. Gold with 99.9 percent and 99.5 percent purity lost Rs 500-500 to Rs 1,13,300 and Rs 1,12,800 per 10 grams. But on Tuesday, gold once again showed a huge jump due to foreign signals and strong purchases by investors.
Silver is also on new peak
Not only gold, silver prices also reached a record level. On Tuesday, silver rose by Rs 570 to Rs 1,32,870 per kg. On Monday, it closed at Rs 1,32,300 per kg. The growing interest and industrial demand of investors strengthened silver.
Why are the prices rising?
HDFC Securities Expert Soumil Gandhi said that the dollar index has come down to a 10 -week low. This has strengthened the prices of gold and silver. At the same time, US President Donald Trump is constantly pressurizing the Federal Reserve for a big deduction in interest rates. Recently, weak employment data from the US has also further strengthened the hope of cutting rates.
International market trend
The precious metal also increased in foreign markets. The spot gold reached a new peak of $ 3,698.94 an ounce. At the same time, the spot silver rose 0.10 percent to $ 42.72 an ounce. Jatin Trivedi, vice-president of LKP Securities, says the businessmen have bought long periods, as they expect gold and silver further rapid from developments related to the soft policies of the Federal Reserve and the trade agreement between the US-India-China.